The USDJPY approaches the target – Analysis - 18-06-2020
The USDJPY pair resumed its negative trades clearly to approach our waited target at 106.44, falling under continuous negative pressure coming by the EMA50, to support the chances of breaking the mentioned level and open the way to extend the bearish wave on the short term basis, noting that the next target reaches 105.20.
Therefore, we suggest the domination on the bearish trend in the upcoming sessions unless the price rallied to breach 107.68 and hold above it.
The expected trading range for today is between 106.00 support and 107.50 resistance
The expected trend for today: Bearish
The GBPUSD keeps its positive stability – Analysis - 18-06-2020
The GBPUSD pair tested 1.2515 level and keeps its stability above it, noticing that stochastic provides clear positive signals on the four hours’ time frame, to motivate the price to provide expected positive trades in the upcoming sessions, waiting to visit 1.2777 as a next main station.
Therefore, we will continue to suggest the bullish trend for today unless we witnessed clear break and hold with a daily close below 1.2515.
The expected trading range for today is between 1.2470 support and 1.2660 resistance.
The expected trend for today: Bullish
The EURUSD begins positively – Analysis - 18-06-2020
The EURUSD pair opens today’s trading with slight bullish bias after the decline that it witnessed yesterday, to head towards potential test to the key resistance 1.1270, noting that the EMA50 meets this resistance to add more strength to it.
Therefore, the bearish trend scenario will remain suggested in the upcoming sessions as long as 1.1270 level remains intact, as breaching it will lead the price to attempt to regain the main bullish trend and head towards 1.1420 initially, while our next negative target is located at 1.1175.
The expected trading range for today is between 1.1150 support and 1.1320 resistance.
The expected trend for today: Bearish
End of day analysis for Crude oil 17-06-2020
Crude oil price keeps its stability below the intraday bearish channel’s resistance line, to keep the bearish trend scenario valid for the upcoming period, and it needs to break 36.95 followed by 36.10 levels to confirm rallying towards our main expected target at 32.40, while holding below 39.00 represents key condition to achieve the suggested targets.